12-08-2025
QUICK READ: IDC loses R74 million on phantom Kenyan boats - City Press Sunday investigation
Catch up on Sunday's City Press exposé about how the state-owned Industrial Development Corporation (IDC) lost millions to a Kenyan company that promised to build boats but vanished with the funds.
Key Points
Wider corruption uncovered: Forensic investigations found Ogwang used eight different email addresses, had financial interests in 10 other IDC-funded companies, and shared confidential documents externally - prompting recommendations for criminal proceedings.
